Business

Market Movers

Sears pares back its losses in 4th quarter

Sear’s same-store sales fell 7.8 percent; Kmart’s declined 5.1 percent.

Reuters/File 2013

Sear’s same-store sales fell 7.8 percent; Kmart’s declined 5.1 percent.

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Sears Holdings Corp. reported a hefty fourth-quarter loss on a 14 percent sales drop, as the retailer continues to struggle to attract shoppers. But shares rose as the operator of Kmart and Sears cut its loss from a year ago. It lost $358 million, or $3.37 per share, compared with a loss of $489 million, or $4.61, a year ago. Same-store sales fell 6.4 percent overall. For the year, Sears lost $1.37 billion, or $12.87 per share, vs. a loss of $930 million, or $8.78 per share, in the prior year.

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